(Updated 16 July 2025) Best Singapore Fixed Deposit Rates and Savings Accounts

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Maximise Your Earnings: Top Bank Savings and Deposit Rates in Singapore

Individuals in Singapore have the opportunity to earn high interests with select bank savings and fixed or time deposit accounts. This guide provides an in-depth look at the most competitive rates available.

Understanding the inherent stability of deposits is crucial. Unlike other financial instruments that are subject to market fluctuations, fixed deposits offer a secure option with significantly lower risk. They ensure that your capital remains intact, providing peace of mind and a reliable safety net for your hard-earned money.

Please note that all promotional offers mentioned herein are subject to specific terms and conditions and may change anytime. You are advised to thoroughly review these stipulations prior to engagement. Mistakes and typos may happen, please do your due diligence and verify before committing

Deposits are categorised into two primary types:

• Fixed/Time Deposits: These require the allocation of funds – typically fresh funds – in an account for a predetermined duration.
• Incremental Balance Promotions: These promotions necessitate an increase in the average balance of your account over a set period, using fresh funds

The term ‘fresh funds’ refers to money transferred into the bank account from outside-the-bank sources.

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1. Best Fixed Deposit Promotions (Up to 2.45% p.a.)
2. Best Fresh Funds Promotions (Up to 2.65% p.a.)
3. Best ‘Deposit and Forget’ High-Yield Savings Accounts (Up to 3.6% p.a.)
4. Best Debit Cards For Overseas Usage
5. Revision History

Best Fixed Deposit Promotions (Up to 2.45% p.a.)

These fixed deposit schemes may require fresh funds to qualify for the advertised rates. These promotions offer the overall best interest rate if you don’t have the need to access your funds for the specified terms.

FAQ: Which bank is offering the very best fixed deposit rate? It depends on the tenor, amount and fund freshness. The highest rate for 1-mth, 3-mth, 6-mth and 12-mth tenors are indicated below for your convenience.

1. DBS/POSB S’pore Offers Up to 2.45% p.a. on Fixed Deposits from 10 Dec (max 20k)
2. Singapore Savings Bonds Offers Up to 2.29% p.a. in Latest Issue, Apply by 28 July *SSB* HIGHEST 12-mth SSB (1.82%)
3. State Bank of India Offers Up To 1.75% from 8 Jul HIGHEST 6-mth (1.75%)
4. UOB lowers fixed deposit promo rates from 9 July, top rate now at 1.65% p.a.
5. Maybank Slashes Time Deposit Rates from 11 July, Now Capped at 1.6% p.a.
6. BOC Latest Fixed Deposit Rates as of 14 July, Mobile App Users Still Enjoy Up to 1.82% HIGHEST 1-mth (1.8%), 3-mth (1.82%), 6-mth (1.75%), 12-mth (1.65%)
7. RHB Bank Revises Fixed Deposit Promo Rates to up to 1.7% p.a. from 14 July
8. ICBC Singapore Adjusts Fixed Deposit Rates to up to 1.65% p.a. from 15 Jul 2025
9. OCBC Bank S’pore Offers Up To 1.5% p.a. In Latest Fixed Deposit Rates as of 15 Jul 2025
10. SingFinance Lowers Fixed Deposit Rates to up to 1.65% p.a. from 15 Jul
11. CIMB S’pore trims FD promo rates from 16 July 2025, max rate now 1.7% p.a.

The following offers may not support FAST transfers and may have other restrictions

1. Bank of East Asia Up To 2% p.a.
2. ICICI Bank Singapore Up To 1.75%
3. Singapura Finance Vivid Fixed Deposit Up to 1.75%

The following offers are not SDIC insured (subject to underlying bank risk)

1. Syfe Cash+ Guaranteed up to 1.9% p.a. (as of 1 Jul)
2. Stashaway Simple Guaranteed up to 1.9% p.a. (as of 1 Jul)

Best Fresh Funds Promotions (Up to 2.65% p.a.)

Such promotions offer flexibility, allowing you to access your funds without the restrictions commonly associated with fixed deposits. These promotions offer the second best interest rate and also allow you to withdraw the funds anytime, even partially.

1. Standard Chartered e$aver Promo Offers 2.15% to 2.65% p.a. on Fresh Funds Until 31 Jul
2. Maybank Latest Fresh Funds Top-up Promotion Offers Up to 2.4% p.a. till 31 Aug

Best ‘Deposit and Forget’ High-Yield Savings Accounts (Up to 3.6% p.a.)

These High-Yield Savings Accounts(HYSA) accounts DO NOT have these requirements – salary crediting, GIRO payments, bill payments, purchase of investment / insurance / wealth products and/or minimum card spending to enjoy the interest rates.

They MAY have conditions such as minimum balance requirement to achieve max interest rate (most accounts except MariBank), tiered interest rates (most accounts except MariBank) and maintaining the monthly average balance (UOB Stash). You can place funds and leave them there to accumulate compounding interest, but note that banks may revise mechanics. Some banks may also have inactivity / dormant clauses.

These usually offer the third best effective interest rate, allowing you to withdraw the funds anytime and do not require any regular action from your end to earn the interest.

1. CIMB: Earn up to 2.7% with FastSaver on first $75k
2. CIMB: Earn up to 2.7% with StarSaver
3. MariBank Mari Savings Account flat 1.88% p.a. on first $100k
   • Use referral code 8ZEF70CP when signing up to enjoy additional rewards. More info here
4. Trust Bank Savings Account up to 2% p.a,
   • 1.25% p.a as of May 2025 if you keep a min of $100k, other tiers require salary credit and card spends
   • Use referral code QP4KSSYY when signing up to get guaranteed cashback reward ranging from a minimum of S$5 to S$1,000 (until Dec 2025)
5. RHB High Yield Savings Plus Account up to 1.5% p.a.
6. UOB Stash Account earn up to 3% p.a. interest on first $100k
   • Monthly Average Balance must not decrease
   • Maximum Effective Interest Rate for $100,000 is 2.045%
7. HL Bank iSavings Account earn up to 3.28%
8. Sing Investments & Finance Gosavers Account up to 1.88% p.a.
9. Standard Chartered JumpStart Account 2% p.a. on first S$50,000
   • Must be age 18 – 26 at sign-up
   • Account won’t be closed after you get older than 26
10. BOC SuperSaver up to 3.60% p.a.
    • Account must be linked to PayNow to earn bonus interest
11. Singapura Finance Vivid Savings Account up to 2.08% on first $200k

Best Debit Cards For Overseas Usage

These cards provide savings of up to 3.25% when used overseas as compared to using common debit cards such as DBS debit cards that are not linked to a multi currency account or using an unsupported currency.

1. Trust Debit/Credit *Recommended*
   • Local bank with good exchange rates, funds earn interest, no annual fee
   • Cashback credit card offers up to 15% cashback, see T&Cs for details
   • Use referral code QP4KSSYY when signing up to get guaranteed cashback reward ranging from a minimum of S$5 to S$1,000 (until Dec 2025)
2. Youtrip Debit
   • Good exchange rates (you can exchange selected currencies in advance), no annual fee
   • Funds do not earn interest
   • Use this referral link to get $5
3. Wise Debit
   • Good exchange rates (you can exchange selected currencies in advance), no annual fee
   • Hold over 40 currencies to convert and send money
   • Funds do not earn interest unless placed in a at-risk account (if so, can’t be used for transactions)
4. Revolut Debit
   • Good exchange rates (you can exchange selected currencies in advance), no annual fee unless using non-Standard plans
   • Extra 1% currency conversion fees on weekends

Revision History

Here are the last few changes by most recent first

16 Jul 2025

• Fixed Deposit: CIMB (decrease)

15 Jul 2025

• High-Yield Savings: Sing Investments & Finance GoSaver (decrease)
• Fixed Deposit: ICBC (decrease), OCBC (decrease), Sing Investments & Finance (decrease)

14 Jul 2025

• Fixed Deposit: BOC (decrease), RHB (decrease)

11 Jul 2025

• Fixed Deposit: Maybank (decrease)

10 Jul 2025

• Fixed Deposit: UOB (decrease)

8 Jul 2025

• Fixed Deposit: Back of East Asia (decrease)

7 Jul 2025

• Fixed Deposit: CIMB (decrease), State Bank of India (decrease), BOC (decrease)

1 Jul 2025

• Fixed Deposit: UOB (decrease), CIMB (decrease), Standard Chartered (decrease), SSB (decrease), SingFinance (decrease)
• Fresh Funds: Maybank (decrease)

30 Jun 2025

• Fixed Deposit: Singapura Finance Vivid Fixed Deposit (decrease), ICICI Bank (decrease), Bank of China (decrease)

25 Jun 2025

• Fixed Deposit: Singapura Finance Vivid Fixed Deposit (decrease)

24 Jun 2025

• Fixed Deposit: SingFinance (decrease)

20 Jun 2025

• Fixed Deposit: CIMB (decrease), Standard Chartered (decrease)

17 Jun 2025

• Fixed Deposit: OCBC (decrease)

16 Jun 2025

• Fixed Deposit: Maybank (decrease), Bank of China (decrease)
• High-Yield Savings: MariBank (decrease)

13 Jun 2025

• Fixed Deposit: SingFinance (decrease), ICBC (decrease), Standard Chartered (decrease)

11 Jun 2025

• Fixed Deposit: CIMB (decrease), RHB (increase)

10 Jun 2025

• Fixed Deposit: UOB (decrease)

10 Jun 2025

• Fixed Deposit: State Bank of India (no longer available)

6 Jun 2025

• Fixed Deposit: Standard Chartered (decrease)

4 Jun 2025

• Fixed Deposit: Bank of East Asia (decrease)

2 Jun 2025

• Fixed Deposit: UOB (same), Maybank (decrease), CIMB (decrease), Standard Chartered (decrease), SSB, Bank of China (decrease)
• Fresh Funds: Standard Chartered (decrease)

1 Jun 2025

• High-Yield Savings: RHB (decrease)

30 May 2025

• Fixed Deposit: ICICI (decrease)

27 May 2025

• Fixed Deposit: Standard Chartered (decrease)

26 May 2025

• Fixed Deposit: Bank of China (decrease)

21 May 2025

• Fixed Deposit: Bank of East Asia (decrease)

19 May 2025

• Fixed Deposit: Bank of China (decrease), ICBC (decrease)

15 May 2025

• High-Yield Savings: Sing Investments & Finance Gosavers Account (decrease)

14 May 2025

• Fixed Deposit: CIMB (decrease)

12 May 2025

• Fixed Deposit: Bank of China (decrease)

9 May 2025

• Fixed Deposit: Standard Chartered (decrease)

7 May 2025

• Fixed Deposit: RHB (decrease), State Bank of India (decrease)

5 May 2025

• Fixed Deposit: Bank of China (decrease), Singapura Finance Vivid Fixed Deposit (decrease)

1 May 2025

• Fixed Deposit: UOB (decrease), SSB (decrease), CIMB (decrease), Bank of East Asia (decrease)

If you’ve discovered an attractive banking offer, share it in the comments section below.

The information contained in this article is for informational purposes only and does not constitute financial advice. We are not a licensed or accredited financial advisor. Before making any financial decisions, including those involving fixed deposits, please consult with a qualified financial professional and refer to the latest guidelines issued by the Monetary Authority of Singapore (MAS). The views expressed here are solely our own and do not represent the opinions of any regulated financial institution. We accept no liability for any loss or damage incurred as a result of the use of this information.

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